Elina Pienimäki

Elina Pienimäki

2019: Heikki Vienola, Chairman of European reseller Wulff, has finally handed over the reins of CEO after he stepped into the position two years ago following the departure of Kimmo Laaksonen.

Elina Pienimäki took over from Vienola on 30 September, joining from accounting and financial firm Aallon Group where she was also CEO. Her previous roles include CFO of Ahlsell and she is no stranger to Wulff, having been Group CFO of the reseller from 2014-2017.

Pienimäki takes over at a time when the company is finding its feet again in terms of strategy and financial stability. For the first six months of this year, sales were €29.2 million ($32 million), a year-on-year improvement of 4.3%, mainly due to last year’s acquisition of the Canon Business Centre printing services business in Helsinki, Finland. Although Wulff’s H1 EBIDTA figure of €900,000 was a staggering increase of 80% over the prior year, it was mainly attributed to the adoption of the IFRS 16 lease reporting standard. However, if the second half of the year retains this positivity, it should bode well heading into 2020.

Later this year, the reseller is scheduled to move from Vantaa into its new head office and logistics premises located in Finland’s second-largest city and municipality, Espoo.